Shares of Sprint Corp. (NYSE:S) were down 5% on Tuesday . The company traded as low as $6.25 and last traded at $6.32, with a volume of 29,229,009 shares. The stock had previously closed at $6.65.

Several research firms recently weighed in on S. Macquarie reissued an “outperform” rating and set a $5.50 price objective on shares of Sprint Corp. in a research report on Friday, July 15th. Morgan Stanley boosted their price objective on Sprint Corp. from $3.00 to $4.40 and gave the stock an “underweight” rating in a research report on Thursday, July 28th. Citigroup Inc. boosted their price objective on Sprint Corp. from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, September 15th. Wells Fargo & Co. reissued an “outperform” rating and set a $9.00 price objective on shares of Sprint Corp. in a research report on Sunday, August 21st. Finally, Barclays PLC boosted their price objective on Sprint Corp. from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $4.48.

The firm’s 50-day moving average price is $6.28 and its 200-day moving average price is $4.52. The company’s market cap is $24.71 billion.

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Sprint Corp. (NYSE:S) last announced its earnings results on Monday, July 25th. The cell phone carrier reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.00. Sprint Corp. had a negative net margin of 7.08% and a negative return on equity of 10.53%. The company had revenue of $8 billion for the quarter, compared to analysts’ expectations of $8.69 billion. During the same period last year, the firm earned ($0.46) earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts forecast that Sprint Corp. will post ($0.83) earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in S. MIG Capital LLC boosted its position in shares of Sprint Corp. by 1.6% in the first quarter. MIG Capital LLC now owns 7,229,415 shares of the cell phone carrier’s stock worth $25,158,000 after buying an additional 114,015 shares during the period. LPL Financial LLC boosted its position in shares of Sprint Corp. by 7.3% in the first quarter. LPL Financial LLC now owns 80,094 shares of the cell phone carrier’s stock worth $280,000 after buying an additional 5,442 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Sprint Corp. by 1.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,146,632 shares of the cell phone carrier’s stock worth $9,724,000 after buying an additional 39,804 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Sprint Corp. during the first quarter worth about $2,897,000. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Sprint Corp. by 4.7% in the first quarter. TIAA CREF Investment Management LLC now owns 3,187,247 shares of the cell phone carrier’s stock worth $11,092,000 after buying an additional 142,300 shares during the period. 14.93% of the stock is currently owned by institutional investors and hedge funds.

About Sprint Corp.

Sprint Corporation is a holding company. The Company, along with its subsidiaries is a wireless communications company offering a range of wireless and wireline communications products and services. The Company operates in two segments: Wireless and Wireline. Its services are provided through its ownership of wireless networks, an all-digital global wireline network and a Tier 1 Internet backbone.

5 Day Chart for NYSE:S

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